To be clear, I love the idea of having our Pantages restored and for it to become a world-class movie theatre. I just don't think it will happen and that, on top of my stated concerns about artistic integrity, there are principled concerns over the cost and viability of restoring it. The Save the Pantages group likes to throw around cost "estimates" from entities who haven't actually inspected the theatre in person, so honestly I'd trust those numbers even less than the ones the city has provided.
Like it or not, the deal is done. The city considers it legally binding. You can thank Biskupski for the way things went down. From Reddit:
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Originally Posted by u/irondeepbicycle
A bit of perspective. The deal was largely brokered by Biskupski after she'd already announced she wasn't running and the RDA just signed off. The reason it was given away is because of a weird little provision in city code which says that they can dispose of property for free to adjacent parcel owners - which is why it had to be Hines getting it instead of anyone else, since they own the Kearns building directly north.
They could have sold it, which would have dragged the process on and on for a while longer, but I guess they thought that 40 affordable units + a park + a midblock walkway was worth the quicker process.
It doesn't seem like the city got a lot for it, though 400 housing units in the heart of downtown, steps away from transit is a pretty good thing all on its own. The city will get ongoing property tax revenue from the project so it's not like it's a total loss.
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The good news is that something nice is replacing it (evidently, hopefully). The liability concern over the public/private space brought up by Orpheum is interesting. It might be a good question to submit to the RDA at their next meeting.